Exports during current fiscal will be around $300 b: Sharma
Saturday, 25 February 2012 | 00:00
The country's exports during the current fiscal would be around $300 billion, an increase of 22 per cent from $ 245 billion achieved last year, said the Union Commerce Minister, Mr Anand Sharma, on Thursday.
He was interacting with the media after reviewing the progress of the Delhi Mumbai Industrial Corridor (DMIC) project.
Mr Sharma said that growth in exports have been achieved in spite of very challenging circumstances and global contraction of demand. “The conscious strategy which we have adopted of accessing new markets have sustained our exports and would be able to withstand the increasing pressure on current and trade account,” he said.
He said that exports have to be sustained by a robust manufacturing sector. Therefore projects such as DMIC and National Manufacturing Zones needs to be given a boost. Today DMIC is one of the biggest infrastructure projects on the anvil, which will impact 43 per cent of the national population. In the long run, DMIC will attract an investment of about $100 billion.
Riding along with the industrial corridor would be the National Manufacturing Zones (NMZ), which would be full-fledged industrial townships focussed on manufacturing industries. Seven such zones are being planned along the DMIC, of which two would be in Maharashtra, Mr Sharma said.
Also addressing the media, the Maharashtra Chief Minister, Mr Prithviraj Chavan, said that in the first phase of the project, Dighi port industrial area in Raigad district spread over 2,500 km and Shendra Bidkin mega industrial area of 845 km in Aurangabad have been identified as NMZs. Both the regions would be developed with an investment of about Rs 8,766 crore, he said.
For proper implementation of the DMIC project in the State, a joint venture between the Delhi Mumbai Industrial Corridor Corporation and the Maharashtra Government will be set up, which will have an independent team for implementing the project, Mr Chavan said.
Source: The Hindu Business Line
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